Global Networking Cable Market is Expected to Reach US$ 48,387.7 Million by 2031

According to a recent market study published by Growth Market Reports, titled, “Networking Cable Market by Type, by Application, by Region: Size, Share, Trends and Opportunity Analysis, 2016-2031”, the market was valued at US$ 19,989.5 Million in 2022 and is expected to grow at a moderate growth rate of 12.1 % by the year 2031. Increasing demand for high-speed internet facilities is anticipated to fuel the market during the forecast period. Moreover, rapid urbanization in emerging economies results in rising consumption of data, which is further propelling the market.

As per Growth Market Reports industry analyst Sakshi Bhoyar, “Global Networking Cable Market is anticipated to witness significant growth during the forecast period 2023-2031.

Networking cables provide a high level of security than wireless networks. A shielded network cable has a single connection to that server or workstation that no other workstation can see; hence, it is more secure than a wireless network. Although several measures including passwords for protected Wi-Fi networks help improve the security of wireless networks, they are never as secure as network cabling systems. It is easier for criminals to hack wireless data as compared to networking cables. For instance, one of the risk factors in the submarine is the growing volume of data flowing through cables, which encourages third countries to spy on or disrupt traffic. Fiber optic cable is extremely durable and intrinsically safe as it offers no risk of spark hazards since data is transferred via light and not electricity.

Get Sample Report @ https://growthmarketreports.com/request-sample/5324

Key factors that are anticipated to fuel the demand for the global networking cable market during the forecast period are rapid urbanization in developing economies, increasing demand for high-speed internet facilities, energy efficiency and environment sustainability, and high reliability and low-security threats offered by networking cable. Conversely, fluctuating costs of raw materials may hamper the market growth of the networking cable market. The rise in demand for networking cable from the industrial sector and increased government spending for establishing smart cities create opportunities in the market.

Supply chain management is an essential part of any business. A supply chain contains a series of steps to get products from their original state to the customers. Raw materials used for manufacturing Networking Cable are shipped to manufacturers to be processed into final products. Quality checks are performed throughout the production process by manufacturers to ensure the quality of the product.

The primary, as well as secondary research methodology, is used for keen observation and study of Networking Cable market. The primary research methodology involves commercial agreements made with the primary respondents as well as consulting partners to extract critical information pertaining to the syndicated as well as consulting projects. Primary interviews were conducted with the stakeholders across industry verticals at regular intervals in line with the ongoing studies and to keep ourselves abreast with the latest market trends & developments. Validation of the estimated market size, and current and future trends done by the key opinion leaders (KOLs). These KOLs are the CXO level people from leading companies in the industry and possess experience of around 10-20 years in the industry. On the other hand, the secondary research methodology involves exhaustive desk research undertaken to understand the prevailing market trends & dynamics, market competition, customer insights, and other KPIs. Company websites, their SEC filings, annual reports, broker & financial reports, and investor presentations are scanned for understanding the competitive scenario, details and developments, and the overall competitive landscape. Regional government and statistical databases were analyzed for macro & microanalysis. Research publications and paid data are referred to obtain and validate the market estimations, budget, expenditure, and other statistical insights.

The outbreak of COVID-19 significantly hampered the electronics and semiconductor industry. Business and manufacturing units across various countries were closed, owing to an increase in the number of COVID-19 cases. Furthermore, the complete or partial lockdown impacted the global supply chain, making it difficult for manufacturers to reach their customers. On the supply side, the pandemic exposed risks that were previously unrecognized, leading to potential shortages of networking cables. The impacts of the pandemic slowed the installation of fiber-to-the-home (FTTH) networks in Western Europe, which had significantly restrained the market.

The adverse impact was eventually mitigated by increased digitization, and massive internet penetration owing to the rising culture of remote working, remote learning, and online gaming and entertainment. The demand for high-quality audio, video, and data transmission increased rapidly, as most companies allowed their employees to work from home. Governments around the world implemented precautionary measures that forced people to stay at home, increasing the demand for fast internet connectivity. The ongoing need for the networking cables required for upgrading, operating, and maintaining the capacity of previously installed networks is expected to sustain the market in the coming years.

Key Takeaways from the Study

• In terms of type, the optical fiber cable segment accounted for a considerable share of the market in 2022.
• Based on application, the commercial segment accounted for a substantial share of the market in 2022 and is expected to expand at a substantial CAGR during the forecast period.

Report Scope

Target Audience

Networking Cable Manufacturers, Government Agencies, Consulting Firms, Private Research and Development Firms, Equity Firms, and Investment Firms.